§ 10-10-113. Existing Insurance – Choice of Insurer
When credit insurance is required as additional security for any indebtedness, the debtor shall, upon request to the creditor, have the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by him or of procuring and furnishing the required coverage through any insurer authorized to transact an insurance […]
§ 10-10-114. Enforcement
The commissioner may, after notice and hearing, issue such rules and regulations as he deems appropriate for the supervision of this article. If the commissioner finds that there has been a violation of this article or any rules or regulations issued pursuant thereto, and after written notice thereof and hearing given to the insurer or […]
§ 10-10-115. Judicial Review
Any party to the proceeding affected by an order of the commissioner shall be entitled to judicial review by the court of appeals by following the procedure set forth in section 24-4-106 (11), C.R.S. Source: L. 69: p. 541, § 15. C.R.S. 1963: § 72-28-15. L. 92: Entire section amended, p. 1572, § 93, effective […]
§ 10-10-116. Penalties
In addition to any other penalty provided by law, any person, firm, or corporation which violates an order of the commissioner after it has become final, and while such order is in effect, shall, upon proof thereof to the satisfaction of the court, forfeit and pay to the division of insurance a sum not to […]
§ 10-10-117. Insurance Expense Not Computed as Cost of Loan
In connection with insurance which is permitted under this article, the premium and any gain or advantage to the creditor, or to any employee, affiliate, or associate of the creditor, from such insurance or its sale shall not be deemed to be an additional or further interest, discount, or charge, and the creditor may receive […]
§ 10-10-118. Charge Accounts
Nothing in this article shall be construed to permit credit insurance to be required by any creditor for revolving charge accounts or any other charge accounts for the purchase of goods or services. Source: L. 69: p. 541, § 18. C.R.S. 1963: § 72-28-18. L. 92: Entire section amended, p. 1572, § 94, effective May […]
§ 10-10-119. Truncated Coverage
If the debtor elects truncated coverage, at the time of election the creditor shall inform the debtor in writing of the term of the insurance coverage and that the coverage will terminate prior to the scheduled maturity date of the indebtedness. A group certificate or individual policy providing truncated credit insurance coverage shall disclose the […]
§ 10-10-107. Term of Credit Insurance
The term of any credit insurance shall, subject to acceptance by the insurer, commence on the date when the debtor becomes obligated to the creditor; except that, where a group policy provides coverage with respect to existing obligations, the insurance on a debtor with respect to such indebtedness shall commence on the effective date of […]
§ 10-10-108. Provisions of Policies and Certificates of Insurance – Disclosure to Debtors
All credit insurance shall be evidenced by an individual policy or, in the case of group insurance, by a certificate of insurance, which individual policy or group certificate of insurance shall be delivered to the debtor. Each individual policy or group certificate of credit insurance shall, in addition to other requirements of law, set forth: […]
§ 10-10-109. Filing Form Certification – Filing of Rating Data – Withdrawal of Forms
All policies, certificates of insurance, notices of proposed insurance, applications for insurance, endorsements, and riders delivered or issued for delivery in this state shall be certified, and the schedules of premium rates pertaining thereto shall be filed with the commissioner pursuant to subsections (3), (3.5), and (4) of this section. Repealed. (2.5) (a) For credit […]